Versant Capital Management Inc Grows Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Versant Capital Management Inc increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 57.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 970 shares of the semiconductor company’s stock after purchasing an additional 352 shares during the quarter. Versant Capital Management Inc’s holdings in Marvell Technology were worth $107,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of Marvell Technology by 1.2% in the second quarter. Arizona State Retirement System now owns 251,058 shares of the semiconductor company’s stock valued at $17,549,000 after buying an additional 2,975 shares during the last quarter. Candriam S.C.A. raised its holdings in Marvell Technology by 0.3% in the 2nd quarter. Candriam S.C.A. now owns 715,520 shares of the semiconductor company’s stock valued at $50,013,000 after acquiring an additional 2,250 shares during the last quarter. Advisor OS LLC lifted its stake in Marvell Technology by 193.4% in the 2nd quarter. Advisor OS LLC now owns 55,491 shares of the semiconductor company’s stock worth $3,879,000 after purchasing an additional 36,577 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Marvell Technology by 38,460.2% during the 2nd quarter. Acadian Asset Management LLC now owns 132,647 shares of the semiconductor company’s stock worth $9,267,000 after purchasing an additional 132,303 shares during the last quarter. Finally, Fiducient Advisors LLC purchased a new stake in shares of Marvell Technology in the second quarter valued at approximately $279,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Up 4.1 %

Shares of NASDAQ:MRVL opened at $118.18 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The firm’s 50 day moving average price is $100.53 and its 200 day moving average price is $81.26. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $102.26 billion, a price-to-earnings ratio of -69.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, CEO Matthew J. Murphy purchased 13,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was purchased at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the acquisition, the chief executive officer now directly owns 221,915 shares of the company’s stock, valued at $17,227,261.45. This trade represents a 6.22 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,500 shares of company stock worth $14,267,670. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MRVL shares. Benchmark reiterated a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Rosenblatt Securities boosted their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley raised their price objective on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Barclays boosted their target price on shares of Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded shares of Marvell Technology from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $119.76.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.